Credit Suisse AG increased its stake in Qorvo, Inc. (NASDAQ:QRVO – Free Report) by 5.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 158,240 shares of the semiconductor company’s stock after buying an additional 7,783 shares during the quarter. Credit Suisse AG owned 0.16% of Qorvo worth $16,072,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Qorvo by 0.3% in the 4th quarter. Arizona State Retirement System now owns 29,213 shares of the semiconductor company’s stock worth $2,648,000 after buying an additional 101 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Qorvo by 106.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after buying an additional 116 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Qorvo by 2.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 6,088 shares of the semiconductor company’s stock worth $552,000 after buying an additional 123 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Qorvo by 0.5% in the 2nd quarter. LPL Financial LLC now owns 27,262 shares of the semiconductor company’s stock worth $2,571,000 after buying an additional 127 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its holdings in shares of Qorvo by 26.3% in the 4th quarter. Sentry Investment Management LLC now owns 687 shares of the semiconductor company’s stock worth $62,000 after buying an additional 143 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.
Qorvo Trading Down 2.4 %
Shares of QRVO opened at $99.73 on Friday. The stock has a 50 day simple moving average of $103.44 and a two-hundred day simple moving average of $99.64. The company has a quick ratio of 1.83, a current ratio of 3.27 and a debt-to-equity ratio of 0.54. Qorvo, Inc. has a 1 year low of $75.38 and a 1 year high of $114.59.
Wall Street Analyst Weigh In
QRVO has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Qorvo in a report on Thursday, August 3rd. Wells Fargo & Company boosted their price objective on Qorvo from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Wolfe Research started coverage on Qorvo in a research note on Wednesday, July 19th. They issued an “outperform” rating and a $125.00 price objective on the stock. Mizuho boosted their price objective on Qorvo from $102.00 to $107.00 in a research note on Thursday, August 3rd. Finally, Susquehanna boosted their price objective on Qorvo from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average target price of $112.67.
Read Our Latest Research Report on Qorvo
Insiders Place Their Bets
In other news, SVP Paul J. Fego sold 4,208 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $102.02, for a total transaction of $429,300.16. Following the completion of the sale, the senior vice president now owns 26,707 shares of the company’s stock, valued at $2,724,648.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Paul J. Fego sold 4,208 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $102.02, for a total transaction of $429,300.16. Following the completion of the sale, the senior vice president now owns 26,707 shares of the company’s stock, valued at $2,724,648.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Grant Brown sold 6,679 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $102.02, for a total value of $681,391.58. Following the sale, the chief financial officer now directly owns 21,217 shares of the company’s stock, valued at approximately $2,164,558.34. The disclosure for this sale can be found here. Insiders sold a total of 38,183 shares of company stock valued at $3,889,782 over the last quarter. 0.43% of the stock is owned by corporate insiders.
Qorvo Profile
Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.
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